This bill establishes the Iowa Major Events and Tourism Program and Fund, aimed at providing financial assistance to eligible entities that support tourism-oriented events in Iowa. The program will offer grants to nonprofit organizations involved in events that generate significant attendance, publicity, and economic impact. Eligible entities must be actively involved in the bidding process for events and submit an economic analysis detailing projected hotel occupancy and attendee numbers. The bill outlines the application process, evaluation criteria, and the authority's discretion in funding decisions, including the requirement for applicants to demonstrate matching funds of at least 50% of the awarded assistance.

Additionally, the bill appropriates $15 million from the sports wagering receipts fund for the fiscal year 2025-2026 to support the Iowa Major Events and Tourism Fund. It also modifies the existing sports tourism marketing and infrastructure program by repealing the marketing program while retaining the infrastructure program. Any remaining funds from the repealed marketing program will be transferred to the newly established Iowa Major Events and Tourism Fund. This restructuring aims to streamline financial assistance for events that enhance tourism and economic development in Iowa.

Statutes affected:
Introduced: 15.106A, 15F.401, 15J.4, 15F.403, 15F.402